Barclays could drop eagle logo because of 'Nazi connotations'

The banking giant has informally agreed to ground the eagle after nearly 300 years if its £45 billion offer for ABN Amro succeeds, the Times newspaper said.

The company, which declined to comment on the report, is understood to have made the move because of the use of the eagle by Germany's Nazi regime, which occupied the Netherlands during the Second World War.

A source close to the bank said in the Times: "It is rather a Teutonic-looking eagle and has unfortunate connotations."

Barclays' logo bears a similarity to the Nazi version of Germany's eagle emblem and ABN AMRO is concerned how it would be received in the Netherlands, which was occupied during World War Two.

Barclays' link to the eagle dates back to 1728 when two of its founders moved to new premises in London, where there was the sign of the Black Spread Eagle. The sign has evolved over years and was softened by brand consultants in a 1999 makeover.

The German eagle is an old national symbol used by kings and emperors of the region and was part of the Imperial arms adopted when Germany was unified in 1871. During the Nazi era the national swastika symbol was held by an eagle.

Barclays could adopt ABN's shield logo for a combined group, the source said. It would keep its eagle if the ABN bid fails.

Barclays will keep its name but move headquarters to Amsterdam under its proposed 66 billion euro takeover of ABN, which the Dutch bank's board has agreed to.

Royal Bank of Scotland is leading a rival consortium that is seeking to gatecrash the takeover and has made a higher conditional bid for ABN which would break it up between three banks.